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Swiss bank UBP boosts assets under management 8.8% in 2021 -Breaking

by Mike Robinson

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© Reuters.

ZURICH (Reuters), The Swiss Bank Union Privee reported that assets under management increased 8.8% to 160.4 billion Swiss francs in 2021, which amounts to $175.40 billion. This was due in part to favorable market conditions and net capital flows of 5.7 billion francs.

“This net new money comes mainly from growth markets, but in particular Asia, the Middle East and Eastern Europe, as well as from the acquisition of Millennium Banque Privée, which was finalised in the last quarter of the year,” it said.

The revenue rose 5.9% to 1.13 Billion Francs. This was partly due to a 10.6% rise in commissions which compensated for the shrinking net interest margins during this low-interest rate environment.

The net earnings grew nearly 11% to reach 201.2 millions francs.

($1 = 0.9145 Swiss francs)

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